Friday, August 26, 2016

The New Yorker on the Deutche Bank's 10 Billion Dollar Scandal

As always, we go the extra mile to get you the juiciest of excerpts from the actual story:

Although the bank’s headquarters remained in Germany, power migrated from conservative Frankfurt to London, the investment-banking hub where the most lavish profits were generated. The assimilation of different banking cultures was not always successful. In the nineties, when hundreds of Americans went to work for Deutsche Bank in London, German managers had to place a sign in the entrance hall spelling out “Deutsche” phonetically, because many Americans called their employer “Douche Bank.”